A small business has determined that the machinery they currently use will wear out in 17...
A small business has determined that the machinery they currently use will wear out in 17 years. To replace the new machine when it wears out, the company wants to establish a savings account today. If the interest rate on the account is 1.4 percent per quarter and the cost of the machinery will be $315,000, how much will the company have to deposit today?
Homework Answers
the cost of the machinery will be $315,000, how much will the company have to deposit today
=315000/(1+1.4%)^(17*4)
=122385.40
the above is answer..
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A small business has determined that the machinery they
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